New York, NY – New Yorkers who get their natural gas from Con Edison will face rate hikes of more than 2% in each of the next three years under a new settlement announced Tuesday night.
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Rates will go up 2.4% on Oct. 1, 2.3% a year later and 2.2% a year after that, according to the rate plan agreed to by Con Ed, regulators, large customers and watchdog groups.
The Public Service Commission posted the settlement on its Web site last night, and parties involved in it were not able to comment on it.
The commission still must approve the settlement and will schedule a public hearing on it.
Con Ed initially requested an 8.4% increase in the first year, followed by 2.7% and 2.6% hikes.
A separate proposal released last night also would raise the cost of steam by 7% on Oct. 1, 6.5% a year later and 6.1% the year after that.
A bunch of greedy people. Rabosai it’s very high time to change to c cheaper company and show them we mean business not greed.
Actually, this is a very good outcome for consumers….they settled at a lower level than I would have thought given that they could have justified a higher rate in a fully litigated proceeding.
There isn’t true public contol or oversight over Con Ed or the MTA. The MTA is controled by the Mafia. We need to place such companies under the rule of businessmen who would run it properly. The MTA wastes so such money, ridership is at record levels yet they say they have money problems. I have friends who work at the bus depots. They say that the bus drivers run up overtime by playing cards. A city bus driver gets over $70,000 a year that excludes overtime playig cards in the depot. Repair men refuse to work very hard. They waste and steal equipment and money all day. There is much more I can say but there isn’t enough space on this blog.